Residential Income Property with
For Sale
$885,000
3515 Archwood Avenue, Cleveland, OH 44109
Built in 1895, the property features central air, a finished walk-out lower level, and an attached side-entry garage.
Property Size5,770 SF
Price / SF$153.38
Days on Market10
Property Features for 3515 Archwood Avenue
General Information
Standard status
Active
Size
5,770 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,376
Amenities
Ceiling Fan(s), Central Air
Forced Air, Hot Water, Steam
Full, Finished, Storage Space, Walk-Out Access
Dryer, Dishwasher, Range, Refrigerator, Washer
Vaulted Ceiling(s), Breakfast Bar, Built-in Features, Ceiling Fan(s), Crown Molding, Cathedral Ceiling(s), Entrance Foyer, Eat-in Kitchen, Granite Counters, High Ceilings, In-Law Floorplan, Kitchen Island, Storage, Natural Woodwork, Walk-In Closet(s)
Attached, Garage, Garage Faces Side
Building Details
Year Built
1895
Buildings
2
Stories
3
Listed By:
John P Lucien
(440) 897-0834
Source:
Evrealestate
Added: Oct 7
Changed: Oct 13
Last Checked: Oct 14 at 11:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of John P Lucien
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Investment Insights
Based on property information with market context.
This residential income property dates to 1895 and includes central air, forced-air, hot-water and steam heating, plus an attached garage with side-facing access. Interior details include vaulted and cathedral ceilings, natural woodwork, granite counters, a kitchen island, and an eat-in kitchen. The finished lower level offers storage and walk-out access.
The property is at 3515 Archwood Avenue in Cleveland, Ohio. Kitchen appliances include a dishwasher, range, and refrigerator; a washer and dryer are also included.
The property is at 3515 Archwood Avenue in Cleveland, Ohio. Kitchen appliances include a dishwasher, range, and refrigerator; a washer and dryer are also included.
Key Highlights
- 1895 construction
- Finished lower level with storage and walk‑out access
- Attached garage with side‑facing access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,978
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,279,560
$1.3M
Cap Rate 7%
$913,971
$914.0K
Cap Rate 9%
$710,867
$710.9K
Market Conditions
NOI Build-Up for 5,770 SF
Gross rent
$121.2K $21.00/SF
− Vacancy
−$4.8K −$0.84/SF
EGI
$116.3K $20.16/SF
− OpEx
−$52.3K −$9.07/SF
NOI
$64.0K $11.09/SF
Area
Cleveland, OH
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,279,560
Cap Rate 7%
$913,971
Cap Rate 9%
$710,867
Alternative Uses
Best Use
Apartment 5plus
$914.0K
$799.7K – $1.07M
NOI $63,978 @ 7.0% cap · market cap 7.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,565 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Explore this area
Business Placement
Demographics for 44109, OH
39,121
Population
19,588
Households
2
Avg Household Size
36
Median Age
17%
College-Educated
81%
High-School Grad
7.1 sq mi
ZIP Area
5,510
Density / Sq Mi
$43,130
Median Household Income
$34,050
Median Earnings
$861
Median Rent
$112,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1895, the property features central air, a finished walk-out lower level, and an attached side-entry garage.
Where is this residential income property located?
The property is located at 3515 Archwood Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: 1895 construction; Finished lower level with storage and walk‑out access; Attached garage with side‑facing access
